Stoke Therapeutics, Inc.

STOK · Pharmaceutical Preparations · 62.3M shares · +14%/yr ↑ shares · EDGAR filings ↗

Reference price $29.95 · est. market cap ~$1.9B — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C54

Clinical-stage RNA biopharma (Dravet/zorevunersen) — positive free cash flow this year from a partnership, but pre-commercial.

Strengths

Positive free cash flow (collaboration-driven) — FCF $45M (86th), OCF margin 25%

Risks

Pre-commercial, dependent on clinical success — operating margin -11%
FCF is partnership-driven, not recurring — per metrics
Capital-need/competition risk — per 10-K

Notable findings

No interest coverageInterest coverage -2287.78 (cannot cover interest)
Exec changeRecent 8-K item 5.02 8-K ↗
Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
Auditor changeRecent 8-K item 4.01 8-K ↗
Net lossNet loss (net margin -3.7%)
Trial resultPositive trial readout — primary endpoint met (8-K) 8-K ↗
Strong balance sheetStrong balance sheet — $391M cash & investments
Insider sellingInsider selling — 31 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$3M, last 6mo) Form 4 ↗
Trial readout soonUpcoming trial readout ~2027-03 — PHASE3 · Dravet Syndrome
Notable holderHeld by 4 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)

Quarterly revenue

2025-06-30 · $14M2025-09-30 · $11M2025-12-31 · $1M2026-03-31 · $6M

Last 4 quarters · from SEC filings.

Key metrics

Operating margin

-11.2%

Net margin

-3.7%

Return on equity

-2.0%

Return on assets

-1.6%

Revenue growth (QoQ)

344.3%

Interest coverage

-2287.8×

Current ratio

5.3×

Free cash flow

$45M

Tangible book value

$352M

Cash & investments

$391M

Stock comp / revenue

17.5%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-16	Allan Jonathan	Sell	1.5K	$29.95
2026-06-01	Ticho Barry	Sell	1.8K	$30.58
2026-05-01	Ticho Barry	Sell	2.2K	$32.79
2026-04-01	Ticho Barry	Sell	1.8K	$32.66
2026-03-20	Allan Jonathan	Sell	8.7K	$33.64
2026-03-20	Allan Jonathan	Sell	601	$34.41
2026-03-19	Ticho Barry	Sell	1.5K	$29.99
2026-03-19	Ticho Barry	Option exercise	1.4K	$2.19
2026-03-18	Leggett Thomas	Sell	37	$32.85
2026-03-18	Hoitt Jason	Sell	30	$32.85
2026-03-18	Hoitt Jason	Sell	139	$31.79
2026-03-18	Allan Jonathan	Sell	4.2K	$31.28
2026-03-18	Allan Jonathan	Sell	334	$31.79
2026-03-18	Allan Jonathan	Sell	72	$32.85
2026-03-18	Leggett Thomas	Sell	172	$31.79
2026-03-18	Leggett Thomas	Sell	2.2K	$31.28
2026-03-18	Ticho Barry	Sell	6.1K	$31.28
2026-03-18	Ticho Barry	Sell	483	$31.79
2026-03-18	Ticho Barry	Sell	103	$32.85
2026-03-18	Hoitt Jason	Sell	1.8K	$31.28
2026-03-17	Hoitt Jason	Sell	748	$33.38
2026-03-17	Allan Jonathan	Sell	2.5K	$32.74
2026-03-17	Allan Jonathan	Sell	1.8K	$33.38
2026-03-17	Ticho Barry	Sell	3.6K	$32.74
2026-03-17	Ticho Barry	Sell	2.6K	$33.38
2026-03-17	Leggett Thomas	Sell	1.3K	$32.74
2026-03-17	Leggett Thomas	Sell	922	$33.38
2026-03-17	Hoitt Jason	Sell	1.0K	$32.74
2026-03-15	Kaye Edward M. MD	Option exercise	36K	—
2026-03-15	Allan Jonathan	Option exercise	7.5K	—
2026-03-15	Allan Jonathan	Option exercise	6.0K	—
2026-03-15	Allan Jonathan	Option exercise	12K	—
2026-03-15	Ticho Barry	Option exercise	13K	—
2026-03-15	Ticho Barry	Option exercise	10K	—
2026-03-15	Ticho Barry	Option exercise	11K	—
2026-03-15	Leggett Thomas	Option exercise	15K	—
2026-03-15	Hoitt Jason	Option exercise	10K	—
2026-03-15	Kaye Edward M. MD	Option exercise	26K	—
2026-03-13	LEVIN ARTHUR A	Sell	605	$36.80
2026-03-10	TZIANABOS ARTHUR	Sell	4.4K	$40.00
2026-03-10	Krainer Adrian R.	Sell	33K	$39.74
2026-03-10	TZIANABOS ARTHUR	Option exercise	4.0K	$8.33
2026-03-02	Krainer Adrian R.	Sell	7.2K	$39.66
2025-12-31	LEVIN ARTHUR A	Option exercise	1.2K	—
2025-12-08	Kaye Edward M. MD	Sell	3.8K	$31.44
2025-12-08	Allan Jonathan	Sell	1.3K	$31.60
2025-12-08	Allan Jonathan	Sell	2.7K	$32.61
2025-12-08	Kaye Edward M. MD	Sell	8.3K	$32.52
2025-12-08	Kaye Edward M. MD	Sell	1.3K	$33.10
2025-12-05	Ticho Barry	Sell	1.7K	$31.33
2025-12-05	Kaye Edward M. MD	Sell	1.7K	$31.15
2025-12-05	Kaye Edward M. MD	Sell	500	$31.85
2025-12-05	Allan Jonathan	Sell	1.0K	$31.33
2025-12-05	Kaye Edward M. MD	Sell	6.4K	$31.33
2025-12-05	Ticho Barry	Sell	2.0K	$31.35
2025-12-05	Allan Jonathan	Sell	5.4K	$31.08
2025-12-05	Allan Jonathan	Sell	2.3K	$31.76
2025-12-04	Kaye Edward M. MD	Sell	1.2K	$31.32
2025-12-04	Allan Jonathan	Sell	824	$30.76
2025-12-04	Allan Jonathan	Sell	194	$31.32
2025-12-04	Ticho Barry	Sell	1.4K	$30.76
2025-12-04	Ticho Barry	Sell	323	$31.32
2025-12-04	Kaye Edward M. MD	Sell	5.2K	$30.76
2025-12-03	Ticho Barry	Sell	1.2K	$30.85
2025-12-03	Kaye Edward M. MD	Sell	419	$30.34
2025-12-03	Allan Jonathan	Option exercise	6.0K	—
2025-12-03	Ticho Barry	Option exercise	10K	—
2025-12-03	Kaye Edward M. MD	Option exercise	26K	—
2025-12-03	Kaye Edward M. MD	Sell	651	$30.85
2025-12-03	Allan Jonathan	Sell	898	$30.34
2025-12-03	Allan Jonathan	Sell	1.4K	$30.85
2025-12-03	Ticho Barry	Sell	789	$30.34
2025-12-02	Kaye Edward M. MD	Sell	661	$29.56
2025-12-02	Kaye Edward M. MD	Sell	405	$30.14
2025-12-02	Allan Jonathan	Sell	868	$30.14
2025-12-02	Allan Jonathan	Sell	1.4K	$29.56
2025-12-02	Ticho Barry	Sell	1.2K	$29.56
2025-12-02	Ticho Barry	Sell	762	$30.14
2025-12-01	Allan Jonathan	Option exercise	12K	—
2025-12-01	Ticho Barry	Option exercise	12K	—
2025-11-24	Krainer Adrian R.	Sell	40K	$29.72
2025-11-14	Krainer Adrian R.	Sell	20K	$26.61
2025-11-14	Krainer Adrian R.	Sell	21K	$27.34
2025-11-03	Ticho Barry	Sell	3.8K	$25.22
2025-11-03	Ticho Barry	Sell	1.5K	$26.02
2025-11-03	Ticho Barry	Sell	600	$27.54
2025-11-03	Ticho Barry	Sell	100	$29.35
2025-10-08	Kaye Edward M. MD	Option exercise	25K	$0.60
2025-10-08	Kaye Edward M. MD	Sell	25K	$30.00
2025-10-03	Allan Jonathan	Option exercise	10K	$9.15
2025-10-03	Allan Jonathan	Sell	10K	$25.07
2025-10-03	Kaye Edward M. MD	Sell	42K	$25.09
2025-10-01	Ticho Barry	Sell	5.3K	$23.64
2025-09-30	LEVIN ARTHUR A	Option exercise	1.2K	—
2025-09-03	Allan Jonathan	Sell	6.3K	$20.07
2025-09-03	Kaye Edward M. MD	Sell	46K	$20.13
2025-09-02	Ticho Barry	Sell	5.5K	$19.87
2025-09-02	Kaye Edward M. MD	Sell	15K	$20.14
2025-09-02	Allan Jonathan	Option exercise	9.2K	$7.07
2025-09-02	Allan Jonathan	Sell	15K	$20.14
2025-08-29	Kaye Edward M. MD	Sell	1.0K	$20.00
2025-08-29	Allan Jonathan	Option exercise	850	$7.07
2025-08-29	Allan Jonathan	Sell	850	$20.00
2025-08-18	Kaye Edward M. MD	Sell	12K	$18.24
2025-08-18	Allan Jonathan	Sell	1.7K	$18.24
2025-08-18	Ticho Barry	Sell	2.8K	$18.24
2025-08-14	Ticho Barry	Option exercise	10K	—
2025-08-14	Allan Jonathan	Option exercise	6.0K	—
2025-08-14	Kaye Edward M. MD	Option exercise	26K	—
2025-08-13	Allan Jonathan	Sell	14K	$15.00
2025-08-01	Ticho Barry	Sell	4.5K	$12.82
2025-07-01	Ticho Barry	Sell	4.5K	$11.63
2025-06-30	LEVIN ARTHUR A	Option exercise	1.2K	—
2025-06-04	Skorpios Trust	Sell	3.0M	$10.20
2025-06-03	Ticho Barry	Sell	6.5K	$10.03
2025-06-02	Ticho Barry	Sell	1.7K	$10.00
2025-05-02	Ticho Barry	Sell	23K	$10.03
2025-05-01	Ticho Barry	Sell	3.8K	$10.00
2025-03-31	LEVIN ARTHUR A	Option exercise	1.2K	—
2025-03-19	Kaye Edward M. MD	Sell	8.9K	$8.27
2025-03-19	Ticho Barry	Sell	3.3K	$8.27
2025-03-19	Allan Jonathan	Sell	1.9K	$8.27
2025-03-18	Ticho Barry	Sell	3.9K	$8.67
2025-03-18	Allan Jonathan	Sell	2.3K	$8.67
2025-03-18	Kaye Edward M. MD	Sell	10K	$8.67
2025-03-15	Kaye Edward M. MD	Option exercise	26K	—
2025-03-15	Ticho Barry	Option exercise	10K	—
2025-03-15	Kaye Edward M. MD	Option exercise	36K	—
2025-03-15	Ticho Barry	Option exercise	13K	—
2025-03-15	Allan Jonathan	Option exercise	7.5K	—
2025-03-15	Allan Jonathan	Option exercise	6.0K	—
2024-12-30	Kaye Edward M. MD	Option exercise	35K	$0.60

All non-derivative Form 4 activity (SEC), newest first.

Clinical trials

Trial	Title	Phase	Status	Primary completion
NCT04740476 ↗	An Open-Label Extension Study of STK-001 for Patients With Dravet Syndrome Dravet Syndrome	PHASE2	Active Not Recruiting	2029-03-31
NCT06872125 ↗	A Double-blind Study Evaluating the Efficacy, Safety, and Tolerability of Zorevunersen in Patients With Dravet Syndrome Dravet Syndrome	PHASE3	Recruiting	2027-03-01
NCT04442295 ↗	An Open-Label Study to Investigate the Safety of Single and Multiple Ascending Doses in Children and Adolescents With Dravet Syndrome Dravet Syndrome	PHASE1/PHASE2	Completed	2023-11-14

Source: ClinicalTrials.gov (U.S. NIH) · active studies first.

Notable events (8-K)

Date	Items
2026-06-04	Shareholder vote	filing ↗
2026-05-07	ResultsExhibits	filing ↗
2026-04-07	Exec/director changeReg FDExhibits	filing ↗
2026-03-27	Auditor changeExhibits	filing ↗
2026-03-03	Exec/director change	filing ↗
2026-01-26	Material agreementDebt obligation	filing ↗
2026-01-12	ResultsReg FDOtherExhibits	filing ↗
2025-12-05	Reg FDOtherExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-04	2026-06-03	0001193125-26-257394 ↗
10-Q	2026-05-07	2026-03-31	0001193125-26-211874 ↗
8-K	2026-05-07	2026-05-07	0001193125-26-212020 ↗
8-K	2026-04-07	2026-04-03	0001193125-26-145524 ↗
8-K	2026-03-27	2026-03-23	0001193125-26-129168 ↗
10-K	2026-03-16	2025-12-31	0001193125-26-108362 ↗
8-K	2026-03-03	2026-02-13	0001193125-26-088205 ↗
8-K	2026-01-26	2026-01-21	0001193125-26-022569 ↗
8-K	2026-01-12	2026-01-11	0001193125-26-009781 ↗
8-K	2025-12-05	2025-12-05	0001193125-25-308781 ↗
10-Q	2025-11-04	2025-09-30	0001193125-25-264720 ↗
8-K	2025-11-04	2025-11-04	0001193125-25-264644 ↗